A few days ago
neurogrrl

Why can’t you buy a car with student loans?

I am a medical student and will have to go on “away” rotations in order to graduate. Some of them are in rural areas. I would be perfectly happy not to have a car, but I don’t think I can graduate without one. My class load is too heavy to work any kind of steady job. I’m wondering how exactly the federal government expects people to handle this situation.

Top 8 Answers
A few days ago
Anonymous

Favorite Answer

I’m sure this isn’t your school’s fin aid guidelines, but many are almost exact from school to school. See below for explanation for cars.

For what it’s worth, during my sophomore year in a state college my roommate AND my suite mate (both living on campus) received enough fin aid with grants, scholarships, fee waivers and loans to buy cars. Neither of them asked for extra money for this expense – which is prob why they were able to do this. Also looking back, the school wasn’t terribly expensive and neither were the cars they bought.

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4 years ago
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4 years ago
ansby
relies upon on the kind of pupil loan, i think. it is been a protracted time considering that i became in college, yet my spouse and that i used one my pupil loan tests to yet a stable used motor vehicle. We have been residing out in the rustic and faculty became 15 miles away. That and we had a new child on the way. attempting to get 3 little ones and an extremely pregnant spouse squeezed in to a Datsun B-210 hatch back became a logistic impossibility. So we offered a VW van. in case you’re able to purchase a motor vehicle regardless of the indisputable fact that, you do no longer desire a clean clean off the lot motor vehicle. paying for a kind motor vehicle is by no ability clever besides, through fact the applicable volume of depreciation happens in the 1st 2 years. purchase your self a used stable motor vehicle that gets stable gasoline mileage. some thing to get you to college and back is all you like. i could examine with shopper comments and notice what they advise. the important component is to get via college. once you graduate and you are the president of a Fortune one hundred employer you’re able to purchase your self all the flashy vehicles you prefer.
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A few days ago
Anonymous
No you can’t do it. Go for a car loan if you want to buy a car. As you are not taking the loan for car purpose so if you go for a car they can catch you. the rate is also lower in case of student loan.

To know more you can visit

http://www.myowncar.blogspot.com

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A few days ago
Unique
Normally a loan goes straight to the school, and a grant is usually mailed to you
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A few days ago
Anonymous
Did someone tell you you could not buy a car with your student loans? If so can you appeal this decision?
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A few days ago
cardtapper
Financial aid was there to help you with your medical school expenses, but not to save you from all inconveniences, financial dilemmas, and problems of everyday life.

They expect you to use the smarts and resourcefulness that got you into and through medical school to come up with a solution to your problem.

In terms of life problems, this one is TINY. Get over yourself.

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A few days ago
E3_E3
Public Transportation.

The govt doesn’t about your plight. Your going to be making mega-bank in the future so for now, they will let you suffer. It sucks but such is life.

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